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IMPORTANT CHANGES IN THE BANKRUPTCY LAW

A number of significant amendments have been made to the Insolvency Law. In particular, now a citizen's spouse and relatives can be involved in bankruptcy. Now the arbitration manager has the right to receive data on the assets of the debtors' spouses without going to court. In addition, the arbitration manager can find out information about the property and other relatives of the bankrupt. It will be possible to do this in court, but without a direct hearing. Also, the former or current spouse of a Russian ...

"THIS IS GOING TO BE A BIG PROBLEM." THE VICE PRESIDENT OF THE ASSOCIATION OF LAWYERS IN THE FIELD OF LIQUIDATION AND BANKRUPTCY OPPOSED THE REGISTRATION OF LEGAL ENTITIES TO A VIRTUAL ADDRESS

The initiative to register legal entities by e-mail has not been worked out and will make a big mess in the interaction of business and government agencies, said Vladimir Kuznetsov, Vice President of the Association of Lawyers for Registration, Liquidation, Bankruptcy and Judicial Representation. In this regard, for the convenience of taxpayers, the association proposed to create an institute of registration lawyers. During a meeting of the Expert Council under the State Duma Committee on Small and Medium-sized ...

EX-EMPLOYEES OF OTKRITIE BANK FORCED THE COP TO DOUBT THE NORMS OF THE BANKRUPTCY LAW

The Constitutional Court (CC) will check the constitutionality of a number of provisions of the law "On Insolvency (Bankruptcy)" and "On Amendments to Certain Legislative Acts of the Russian Federation". The reason for the procedure was a case involving Otkritie Bank. According to Vedomosti, with reference to the press service of the Constitutional ...

THE STATE DUMA PROPOSED TO ALLOW LIQUIDATION NETTING IN BANKRUPTCY OF QUALIFIED INVESTORS

... investors. The initiative was posted in the electronic database of the Parliament under No. 543525-8. It implies amendments to the Law "On the Securities Market" and the Law on Bankruptcy. Currently, as a general rule, it is prohibited to set off claims in bankruptcy cases, with the exception of a number ... ... qualified individual investors, but when working with citizens, organizations are exposed to increased risks if a citizen goes bankrupt. This significantly increases the cost of such transactions, tightens their commercial conditions and restricts citizens ...

THE STATE DUMA HAS ADOPTED A LAW ON THE TAX ON CRYPTOCURRENCY

The State Duma adopted in the third reading a bill providing for the introduction of taxation of digital currency. Amendments are proposed to the Tax Code of the Russian Federation. The draft law provides that cryptocurrency will be recognized as property, but only for taxation. Residents are required to inform about transactions with digital currency if the amount of receipts or write-offs for the year is more than 600,000 rubles. The author ...

A DRAFT LAW ON FREE LEGAL AID IN COURTS FOR PARTICIPANTS IN A SPECIAL MILITARY OPERATION WILL BE SUBMITTED TO THE DUMA

... should increase the level of legal support and protect the interests of veterans and participants in a special military operation, as well as their families. The explanatory note to the bill notes that today, in a significant part of the regions, the law does not provide free legal assistance on a number of issues for participants in a special military operation and their loved ones. This also applies to the termination of loan obligations and the suspension of enforcement proceedings.

THE LAW ON MEDIATION WAS DISCUSSED IN THE STATE DUMA

The LDPR faction held a round table in the State Duma on amendments to the Law on Mediation (193-FZ). The trade union community, together with the Ministry of Justice and representatives of the party, discussed, among other things, the creation of a unified register of mediators and a code of ethics, as well as educational requirements....

EXECUTIVE IMMUNITY EXTENDED TO MORTGAGE HOUSING OF A BANKRUPT

A citizen recognized as insolvent will keep the only housing that is in the mortgage. The relevant law was signed by Russian President Vladimir Putin. Due to changes in the law, a third party will be able to give the debtor a loan without interest to repay the mortgage. Earlier, this required first dealing with all the requirements included in the ...

PART OF THE MONEY FROM THE SALE OF THE ONLY MORTGAGE HOUSING WILL BE LEFT TO THE BANKRUPT. BUT THIS IS NOT ACCURATE

... compliance with the decision of the Constitutional Court. Earlier, the State Duma had already tried to ease the situation of bankrupt citizens with a single mortgage. So, the State Duma previously adopted a law according to which the debtor can conclude a settlement agreement with the bank, without taking into account the opinion of ... ...." It will be possible to use these funds to buy or rent new housing. At the same time, the amount that is excluded from the bankruptcy estate may be reduced in court at the request of the persons involved in the case to the amount that would meet the ...

THE STATE DUMA ASKS TO FINALIZE AMENDMENTS TO ACCELERATE THE SALE OF ASSETS OF BANKRUPT BANKS

... Duma Committee on Property Issues has prepared a positive opinion on amendments on the possibility of applying compensation in bankruptcy of financial organizations to repay claims of the first stage. However, the bill needs to be finalized, the ministry ... ... Duma. As noted in the Committee on Property Issues, the bill will help to accelerate the completion of the sale of assets of bankrupt credit institutions and satisfy creditors' claims as much as possible. The Committee asked to specify in the bill the ...

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